Indian Telecom Giant Planning Its Own Cryptocurrency

Reliance Jio is one of India's largest Telecommunications company in India. It is also a part of one of India's largest conglomerate Reliance.

Last year, the price of its share and its user base increased exponentially after offering plans for really low-prices, disrupting the entire market and forcing some other big telecom companies to follow suit.

This year, Reliance Jio plans on creating a 50-member team of young professionals to implement blockchain technology for the company's own cryptocurrency called JioCoin.

How will they use this JioCoin - "We can deploy smart contracts. It can be used in supply chain management logistics. Loyalty points could altogether be based on JioCoin,"